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Antipodeans, Yen Moderately Firmer In Asia

FOREX

The Yen and the antipodeans are firmer in Asia on Friday, gains in AUD and NZD marginally extended as USD/CNH came off session highs. Elsewhere in G-10 ranges are narrow with little follow through on moves.

  • USD/JPY is ~0.2% lower, last printing at ¥138.30/40. The pair is paring some of yesterday's gains after printing a YTD high yesterday. Early in the session Japan's April Core-Core CPI rose at its fastest annual pace since Sept 1981, core CPI and headline CPI printing in line with estimates.
  • Kiwi is firmer this morning, widening rate differentials and a trade surplus in April have seen NZD/USD rise ~0.2%. The 200-Day EMA ($0.6258) presents as the first target for bulls, a break through here opens high from May 11 ($0.6385).
  • AUD/USD is ~0.2% higher and we sit a touch beneath session highs. Bulls look to break the 50-Day EMA ($0.6708).
  • EUR and GBP are little changed from opening levels and narrow ranges have been observed.
  • Cross asset wise; e-minis are ~0.2% higher and BBDXY is a touch softer. US Treasury Yields are ~1bp across the curve.
  • German PPI is the highlight of an otherwise thin calendar today.
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